Volvo has announced that it has formed a new partnership with Northvolt to develop EV batteries, the two companies has formed a new 50/50 joint venture. Volvo have been investing heavily in electric vehicles and EV technology.
Volvo and Northvolt will be working together to develop EV batteries and EV battery technology and the two companies will setup a new research and development center in Sweden that will start operating next year.
Alongside previously announced battery supply agreements, a partnership with Northvolt will secure the European battery cell needs that will drive Volvo Cars’ ambitious electrification plans. Volvo Cars aims to sell 50 per cent pure electric cars by the middle of this decade, and by 2030 it aims to sell only fully electric cars.
Today, the production of batteries for Volvo Car Group’s fully electric cars represents a large part of the car’s total lifecycle carbon emissions. By working with Northvolt, a leader in sustainable battery production, and producing batteries near its manufacturing facilities in Europe, Volvo Car Group can reduce the environmental footprint attributable to battery sourcing and production for its future cars.
You can find out more information about the partnership between Volvo and Northvolt over at Volvo’s website at the link below.